Seagate Technology Holdings plc (NASDAQ:STX) Receives $95.50 Average Price Target from Analysts

Seagate Technology Holdings plc (NASDAQ:STX - Get Free Report) has received a consensus recommendation of "Hold" from the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $95.50.

Several equities research analysts recently issued reports on the company. Barclays cut their price objective on Seagate Technology from $85.00 to $80.00 and set an "equal weight" rating on the stock in a report on Monday, April 22nd. Robert W. Baird boosted their price objective on Seagate Technology from $70.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, January 25th. Mizuho reiterated a "buy" rating and issued a $100.00 price objective on shares of Seagate Technology in a report on Tuesday, April 9th. The Goldman Sachs Group upped their price target on Seagate Technology from $84.00 to $96.00 and gave the stock a "neutral" rating in a report on Wednesday, April 24th. Finally, Wedbush upgraded Seagate Technology from a "neutral" rating to an "outperform" rating and set a $100.00 price target on the stock in a report on Wednesday, May 1st.

Seagate Technology Stock Performance

Seagate Technology stock traded up $1.07 during midday trading on Wednesday, hitting $94.67. 2,129,021 shares of the company were exchanged, compared to its average volume of 2,715,479. Seagate Technology has a fifty-two week low of $57.06 and a fifty-two week high of $101.26. The business has a fifty day simple moving average of $89.41 and a two-hundred day simple moving average of $85.86. The firm has a market capitalization of $19.88 billion, a PE ratio of -73.39, a price-to-earnings-growth ratio of 198.04 and a beta of 1.06.

Seagate Technology (NASDAQ:STX - Get Free Report) last issued its quarterly earnings results on Tuesday, April 23rd. The data storage provider reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.04. The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $1.68 billion. The business's revenue was down 11.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.43) earnings per share. As a group, equities analysts expect that Seagate Technology will post 0.4 earnings per share for the current year.

Seagate Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Shareholders of record on Thursday, June 20th will be issued a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date is Thursday, June 20th. Seagate Technology's dividend payout ratio (DPR) is currently -217.05%.

Insider Buying and Selling

In related news, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total transaction of $921,785.00. Following the completion of the sale, the executive vice president now directly owns 15,185 shares of the company's stock, valued at $1,442,575. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP John Christopher Morris sold 11,158 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $90.00, for a total transaction of $1,004,220.00. Following the completion of the sale, the senior vice president now directly owns 17,767 shares of the company's stock, valued at approximately $1,599,030. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Ban Seng Teh sold 9,703 shares of Seagate Technology stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $95.00, for a total value of $921,785.00. Following the sale, the executive vice president now directly owns 15,185 shares of the company's stock, valued at $1,442,575. The disclosure for this sale can be found here. 0.89% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Allworth Financial LP increased its holdings in Seagate Technology by 26.8% during the 3rd quarter. Allworth Financial LP now owns 1,491 shares of the data storage provider's stock worth $98,000 after purchasing an additional 315 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in Seagate Technology by 2.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 14,438 shares of the data storage provider's stock worth $952,000 after purchasing an additional 387 shares in the last quarter. M&T Bank Corp increased its holdings in Seagate Technology by 6.0% during the 3rd quarter. M&T Bank Corp now owns 10,303 shares of the data storage provider's stock worth $679,000 after purchasing an additional 585 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Seagate Technology by 31.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 34,213 shares of the data storage provider's stock worth $2,256,000 after purchasing an additional 8,200 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in Seagate Technology by 1.5% during the 3rd quarter. California Public Employees Retirement System now owns 374,258 shares of the data storage provider's stock worth $24,682,000 after purchasing an additional 5,457 shares in the last quarter. 92.87% of the stock is owned by institutional investors and hedge funds.

About Seagate Technology

Seagate Technology Holdings plc provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. It provides mass capacity storage products, including enterprise nearline hard disk drives (HDDs), enterprise nearline solid state drives (SSDs), enterprise nearline systems, video and image HDDs, and network-attached storage drives.